Knicks, Amar’e Stoudemire Reach Agreement For Buyout

After nearly five seasons with in New York, Amar'e Stoudemire's tenure with the Knicks is over. League sources tell ESPN that the team has reached an agreement with the 32-year-old big man for a buyout.

Stoudemire is in the final season of a five-year, $99.7 million contract, and now, plans to sign with a team in playoff contention after clearing waivers.

Reports say the Dallas Mavericks are considered the frontrunners, but both the Los Angeles Clippers and Phoenix Suns have also expressed interest.

The Knicks will officially waive Stoudemire on Monday (Feb. 16), after which, he'd clear waivers on Wednesday (Feb. 18) and be free to sign with another team.

"One of the main reasons I came to New York is because of him," Carmelo Anthony said of Stoudemire.

As for the Mavs, they can only offer the six-time All-Star the veteran's minimum, but he'd likely play off the bench, playing a supporting role to Dirk Nowitzki and former teammate Tyson Chandler.